While no one wants to envision a worst case scenario when it comes to their health, life does happen, and if you become incapacitated, either for a short time, or long term, giving someone the power to make decisions on your behalf can be difficult if a plan has not been implemented beforehand. Whether you… Continue reading “Who Can Handle My Affairs If I Get Sick or Injured?”
A common question in estate planning is: “How do I dispose of my ‘stuff?’” While bank accounts can have beneficiaries listed, and items like homes and vehicles can be titled over to a trust, passing on the jewelry, furniture, and antiques around our homes may be less obvious, but does not necessarily need to be… Continue reading “I Know What Will Happen to my Finances, but What Will Happen to my ‘Stuff?’”
Many young people incorrectly assume that estate planning is just for the elderly or the very wealthy. But no matter your age or net worth, it is important to have a basic estate plan in place. Estate planning is more than just having a will; creating an estate plan allows young people to distribute their… Continue reading Estate Planning is not just Death Planning – Why Millennials Should Create an Estate Plan.
There is a common misconception that estate planning is only for high net worth individuals, but establishing an estate plan and creating a trust can be the correct decision for anyone. Anything you have ever accumulated in your life is your estate. Having a plan to manage it is smart and often necessary. In essence,… Continue reading Estate Planning – Not Just for the 1%
When is the last time you thought about your estate plan? If you are like most women, you probably do not think about it frequently. However, creating a comprehensive estate plan is especially important as a woman. If you’re a woman, you’ll likely be managing your finances on your own at some point and will… Continue reading Estate Planning for Women
When buying an investment property, you have the option of purchasing it in your own name or purchasing it under the name of another entity, such as a limited liability company (LLC). The LLC then becomes the legal owner of record, not you as an individual. Purchasing commercial investment property under an LLC has significant benefits… Continue reading LLC’s for Commercial Investment Property
These types of assets are referred to as digital assets. Digital assets are your personal e-mail accounts, online bank and brokerage accounts, frequent flier accounts, Facebook accounts, and other social media websites. There are four main categories of digital assets: Personal assets Social media assets Financial assets Online business accounts While you may not… Continue reading Estate Planning for Your Facebook Account?
Two Oklahoma Statutes offer an alternative to probate for small estates valued under $50,000. If you have a valid will, these provisions will not apply to you even if your estate is under $50,000. However, those without a will and an estate under $50,000 can take advantage of these provisions and avoid the probate process… Continue reading Small Estate Affidavits – An Alternative to Probate
An Affidavit of Heirship is a sworn statement that can be used by heirs as an alternative way to transfer property and establish ownership when the original owner dies intestate or without a will. Affidavit of Heirships allow for heirs to take possession of the estate without going through probate. The Affidavit of Heirship outlines the deceased… Continue reading Affidavit of Heirship – An Alternative to Probate?
Tenants in Common (TIC) and Joint Tenancy (JT) represent different ways to own property. It is important to determine how you wish to own your property, either as Joint Tenants or Tenants in Common, because the ownership approaches provide different methods for transferring the property when and if the co-owner dies. While there are several… Continue reading The Difference Between Tenants In Common and Joint Tenants